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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Can I file for bankruptcy prior to leaving Canada?

I owe about 200K in unsecured loans taken out for business which failed. I have a job which pays only 30K and the balance just keeps increasing. I want to file for bankruptcy , the only problem being that I may decide to pack my bags and leave Canada for good before the end of the year. I have a firm job offer in India which pays 12000 Canadian dollars per year which is a good salary in India but is peanuts when compared to the size of my debt.

My question is: If I file for bankruptcy , can I leave the country before discharge? What are my obligations to the trustee once I leave the country? Since my salary in India is less do I need to continue paying the estate after I leave the country?

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One Response to “Can I file for bankruptcy prior to leaving Canada?”

Barton Goth GCO Bankruptcy Trustees said...

There is no restriction on you staying in Canada after you have filed a bankruptcy. However there are are certain duties and obligations you may need to arrange for prior to leaving. These may include attendance at creditor meetings, potential examination by OR, and your counsellings sessions.

As for whether you wil lhave to contiue paying after you leave the country. Yes, if you intend on being cleared from your debt you will have to ensure all monies continue to be paid to the Trustee.